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Earlier in January, Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration.
By Shaurya Malwa|Edited by Parikshit Mishra
Updated Jan 31, 2025, 5:51 a.m. UTCPublished Jan 31, 2025, 5:44 a.m. UTC
What to know:
- Grayscale Investments has filed an application with the SEC to convert its XRP Trust into an ETF for listing on the New York Stock Exchange.
- The proposed ETF would continue to hold XRP as its primary asset and track its performance on a price return basis.
Crypto fund behemoth Grayscale Investments has filed an application with the Securities and Exchange Commission (SEC) to convert its XRP Trust into an exchange-traded fund (ETF), which will listed on the New York Stock Exchange (NYSE).
The existing product operates as a Delaware statutory trust, managing over $16 million XRP as of Friday. The proposed ETF would continue to hold XRP as its primary asset and track its performance on a price return basis, adjusted for operational fees, providing investors with a direct link to XRP’s performance.
STORY CONTINUES BELOW
Besides Grayscale, firms like CoinShares and Bitwise have also submitted applications for XRP-based ETFs, indicating a growing institutional appetite for structured investment products in XRP.
Earlier in January, Ripple Labs president Monica Long remarked an XRP ETF could “soon be a reality” under the new Trump administration, one that has promised to bring crypto innovation back to the U.S. and support locally-based businesses.
Meanwhile, trading volumes on XRP-native applications have been on the rise as it gains favor among investors. Swap volumes on XRP Ledger’s decentralized exchange (DEX) crossed the $400 million mark in January to cross the $1 billion mark for the first time since its automated market maker feature launched in May — a feat that some say contributed to making 2024 a “monumental” year for the token.
Shaurya is the Co-Leader of the CoinDesk tokens and data team in Asia with a focus on crypto derivatives, DeFi, market microstructure, and protocol analysis.
Shaurya holds over $1,000 in BTC, ETH, SOL, AVAX, SUSHI, CRV, NEAR, YFI, YFII, SHIB, DOGE, USDT, USDC, BNB, MANA, MLN, LINK, XMR, ALGO, VET, CAKE, AAVE, COMP, ROOK, TRX, SNX, RUNE, FTM, ZIL, KSM, ENJ, CKB, JOE, GHST, PERP, BTRFLY, OHM,
BANANA, ROME, BURGER, SPIRIT, and ORCA.
He provides over $1,000 to liquidity pools on Compound, Curve, SushiSwap, PancakeSwap, BurgerSwap, Orca, AnySwap, SpiritSwap, Rook Protocol, Yearn Finance, Synthetix, Harvest, Redacted Cartel, OlympusDAO, Rome, Trader Joe, and SUN.
